SME digitization in Indonesia via digital ledgers and virtual storefronts

About the firm

BukuWarung is a book-keeping mobile app that effortlessly tracks and analyses all transactions such as credit, expenses, and sales for small shop owners ‘warungs’ in Indonesia. It provides warung owners, shopkeepers, and entrepreneurs across Indonesia with simple yet valuable insights into the financial health of their businesses through intuitive business reports and allows those business to integrate with other tools in the broader digital ecosystem.‍‍

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Why we Invested

‍Over the last few years, we’ve become more sensitive to the fundamental weaknesses still affecting MSMEs across the region: namely lack of credit, outdated accounting practices, and a disconnect from a greater digital ecosystem.

We knew Abhinay and Chinmay from their days at Carousell, the Singaporean C2C marketplace that’s now come to dominate Southeast Asia. And before that, both worked together building various financial services for the micro-merchant segment in some of Southeast Asia’s most exciting companies like Grab and Kudo, spending almost 15 years contributing to Indonesia’s & ASEAN’s tech ecosystem.

Chinmay and Abhi understand the bottom of the pyramid because they’ve been building products for those users for over a decade. They understand their pain points, expectations of the product, and the daily trials of microentrepreneurs.